TMI Blog2005 (10) TMI 77X X X X Extracts X X X X X X X X Extracts X X X X ..... dvance tax cannot be held to be undisclosed income for the purposes of block assessment - Tribunal was right in remitting the matter back to the Assessing Officer for the purpose of quantification of undisclosed income by taking into account the advance tax paid – revenue appeal is dismssed - - - - - Dated:- 27-10-2005 - Judge(s) : P. D. DINAKARAN., N. KANNADASAN. JUDGMENT The judgment of the court was delivered by P. D. DINAKARAN J.-Against the order of the Appellate Tribunal in IT(SS)A. No. 97/Mds/2001, dated May 17, 2005, the Revenue has preferred the appeal and raised the following substantial question of law: "Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in excluding the total a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a Division Bench of this court, in which one of us was a party, held that the advance tax paid by the assessee cannot be lightly disregarded and it has its own statutory consequences. This court, after referring to various decisions, also held as under: "There cannot be any manner of doubt that when the assessee pays advance tax, the advance tax payment is assessed by the assessee on the basis of self-assessed income. The advance tax reflects the income admitted by the assessee. When the assessee pays the advance tax he discloses his income at the particular point of time, which mayor may not be taxable on a subsequent date, on the return submitted by him under section 139 or under sub-section (1) of section 142 because of the assessee's ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the date of filing the return of the income under sub-section (1) of section 139 has not expired. When the assessee is required to file the self-assessment for payment of the advance tax before the income-tax authorities the return of assessment would fall within the documents maintained in the normal course by the assessee and as such the income disclosed on payment of the advance tax would fall within clause (d) of subsection (1) of section 158BB. In any case although there is a difference between the regular assessment and the block assessment, as we have already noticed, unless the provisions of the block assessment specifically bar, the assessing authority from taking into consideration the income disclosed by the assessee on paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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